Stocks Continue Rise on Economic Data

The S&P 500 continued its rise today, marking its best three-session jump since February, due in part to forecast-beating industrial production. “The macro data continues to come in reasonably firm and we don’t think valuations on the stock side suggest we’re overdone,” Jim Russell, a senior equity strategist at U.S. Bank Wealth Management, said. “The market is finding some sort of natural trading level to bounce out of and we’re seeing slightly better-than-expected earnings and second-quarter outlooks from management that seem to be encouraging.”